Gold Technical Analysis Aug 8, 2019
Gold Technical Analysis: The Gold rose 1.79% against the USD on Wednesday and closed at 1501.00. Today in the European session while Gold technical Analysis Aug 8, 2019 is preparing at 7:45 GMT, the XAU/USD trading at 1497.00, which is 0.26% lower from Yesterday’s close.
The Gold is expected to find support at 1479.00, and a fall through could take it to the next support level of 1456.00. The pair is expected to find its first resistance at 1517.00, and a rise through could take it to the next resistance level of 1532.00. For today the expected trading range is betwee 1479.00, Support and 1532.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1479.00, Support 2: 1456:00, Support 3: 1440:00
Resistance Levels: Resistance 1: 1517.00, Resistance 2: 1532.00, Resistance 3: 1555.00
Gold Buying Opportunity for Intraday Trading Aug 8, 2019
Buy near the support area 1479.00 and 1456.00 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
Gold Selling Opportunity for Intraday Trading Aug 8, 2019
Sell near the resistance area 1517.00 and 1532.00 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.